Communities around the country are already bidding for assets of value to them, and some are very unusual.
Here are just a few examples where active, passionate citizens have begun to transform the assets they care about.
To imagine what the future could look like for Bradford Odeon, click through to read more about some of these amazing projects:
- Dover Port Community Trust have been set up to enable the local community to have a stake in one of the busiest ports in Europe
- Unity Hall in Wakefield is bringing a historic venue back into cultural, flexible use
- FC United of Manchester have raised enough money through a community share issue to build a new stadium
- Hastings Pier have won a long-running battle to bring the pier back into public ownership and have been given a Heritage Lottery Grant to rebuild and reopen it